Canadians have given home ownership top marks in a nationwide survey designed to draw comparisons between the perceived value of housing and other investment instruments.

According to the RE/MAX – COMPAS Research Survey of Canadian Consumers released today, respondents were asked to grade, on a school-type report card, the value of nine investments for retirement purposes, including Canada Savings Bonds, mutual funds, income properties, and corporate bonds.

The family home topped the list with an average score of 77%. By contrast, corporate bonds and the stock market earned failing grades of 48% and 42% respectively.

“Not surprisingly, economic realities such as interest rates, return on investment, estate planning and career security were the primary factors driving home ownership,” said Elton Ash, VP and regional director, RE/MAX of Western Canada.

Overall, real estate-related investments claimed first, second, third and fourth place in the survey. Canada Savings Bonds and mutual funds also tied for fourth place at 56%. Recreational properties trailed behind at 55%, but even these were seen as a better investment than corporate bonds and the stock market.

Pamela Alexander, CEO, RE/MAX Ontario-Atlantic Canada. “Stock markets hold little allure for Canadians in today’s economic climate. The tide has turned. Home ownership is on the upswing in virtually every major centre in the country.”

Other findings include: older Canadians are most bullish on real estate, they are the most prone to see home-buying as more secure than the stock market; buyers in their 30s are especially sensitive to the appeal of interest rates; respondents from Quebec are less enthusiastic about the principal home as an investment; Canadians with a post-graduate education are especially enthusiastic about real estate as an investment; and, enthusiasm seems to rise incrementally with family income.

The survey was conducted during the period of Dec. 14-20, 2002 among a representative sample. Surveys of this size are deemed accurate to within 3.4 percentage points 19 times out of 20.